Biden Invests $1.7 Billion To Convert Factories to EV Production Sites
The Department of Energy allocates $1.7 billion to transform 11 U.S. factories into electric vehicle production sites, creating thousands of unionized jobs.
According to Energy News, the U.S. Department of Energy (DOE) recently announced a $1.7 billion investment to convert 11 automotive assembly plants in eight states: Michigan, Ohio, Pennsylvania, Georgia, Illinois, Indiana, Maryland and Virginia. This initiative aims to reorient these facilities towards the manufacture of electric vehicles (EVs) and their supply chain. The program is part of President Biden’s “Invest in America” agenda, which aims to revitalize manufacturing communities and create quality jobs. This investment follows new tax rules for electric vehicles, aimed at boosting the US EV industry.
The plants selected for this program will cover a wide range of the EV supply chain in the USA. This includes the manufacture of parts for electric motorcycles, school buses, batteries for commercial trucks, and electric SUVs. This massive investment complements the $177 billion already invested by the private sector in EV and battery manufacturing, driven by the Biden administration’s economic agenda.
